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Why Do We Spend So Much Time Asking Customers What They Want When They Rarely Know?

  • Customers often don’t know what they want until they see it, but many companies -and even investors - spend an extraordinary amount of time and money asking them,
  • Misplaced focus is nothing new and history is full of examples where customer feedback would have led companies astray.
  • Early-stage investing follows a similar trend and it’s doubtful that a company like Google would get funded in today’s venture capital climate.
  • Venture capitalists love asking founders, “What problem are you solving?” but that often limits the scope of thinking to marginal innovation.
  • All of this begs the question of whether a company that truly changes the world could come from the 90% of investment that goes into marginal innovation.
  • Incremental improvements are important, but transformative innovation is where real disruption happens.
  • The challenge for investors, marketers, and entrepreneurs isn’t just to answer the right questions - it’s to dare to ask the questions no one else has seen yet.

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